Decisions
There’s a few decisions to be made with this site. On offer is a comfortable 2 bedroom home, which if you were looking to hold for the
medium term you would try and convert to a three bedroom home. It sits upon over 600m2 of land in a nice, quiet and convenient street, with
the likely ability to subdivide into two lots. It is a corner lot with an odd shape and advantages and disadvantages in how you create the
two lots. You are buying at about land value so we know this is a good buy, and the site would suit 2 x rooming houses, but the numbers,
whilst acceptable, are only average. So… do you hold or develop? Do you leave as a two bedder or create the third bedroom? What lot shapes
do you think is most advantageous? Do you create rooming now or later? Do you bank on increasing rents? Lots of decisions to make, but at
just over $1m, this represents a good pickup for a variety of buyers.
Read More